August 21, 2019Shawn LaneConsumer Credit Expert When it comes to credit cards, people have strong opinions. You’re probably either a fan of credit cards and the perks they provide, or you may prefer not to use them at all. If you’ve ever struggled with credit card debt in the past, you may be afraid to trust yourself with them again. But …
How Good Credit Can Save You Money on Insurance Premiums
July 9, 2019 Shawn Lane Consumer Credit Expert The benefits of good credit are seemingly endless. There’s the obvious — good credit can help you to qualify for loans, credit cards, and other types of financing. Solid credit can also help you pay lower interest rates when you’re approved. But low rates and high approval odds are only the tip …
What Makes Up Your Credit Scores? Part 2: Amounts Owed
February 21, 2019 Shawn Lane Consumer Credit Expert Many people think that paying your financial obligations on time is all it takes to earn great credit scores. The truth, however, is that credit scoring is more complicated than that. Believe it or not, the majority of the points in your credit scores don’t have anything to do with how …
What Makes Up Your Credit Scores? Part 1: Payment History
February 7, 2019 Shawn Lane Consumer Credit Expert Your credit scores are an important component of your financial wellbeing. Without solid credit scores, life can be a lot more difficult (not to mention more expensive) than it needs to be. The good news is that if you learn what influences your credit scores, you’ll be better equipped to improve them. …
Free Credit Freezes: Do You Need Them?
October 18, 2018 Shawn Lane Consumer Credit Expert There is no surefire way to keep your personal information safe and protected. The Equifax Data Breach of 2017 alone exposed the sensitive, personal information of some 143 million consumers in the US. The Under Armour data breach, which occurred in the spring of 2018, exposed another 150 million consumer records as …
The Cost of Poor Credit
August 14, 2018 Shawn Lane Consumer Credit Expert You work hard to earn an income. Wasting that money is the last thing you want to do. If you have bad credit, however, wasting money is inevitable. Bad credit is incredibly expensive and the cost of bad credit is compounded the longer your credit remains in poor shape. Believe it or …
Which Debt Should I Pay Off First?
August 28, 2018 Shawn Lane Consumer Credit Expert So you have come into some money (or perhaps freed up a bit of room in your budget) and you are ready to start paying down your debts. Now you just need to choose where to start. Which debts should you pay off first and which ones can wait for later? The …
How to Rebuild Your Credit After a Bankruptcy
July 11, 2018 Shawn Lane Consumer Credit Expert Bankruptcy has its pros and cons. Chances are that you considered the facts, weighed your options, and did not choose to file bankruptcy lightly. Although bankruptcy can certainly hurt your credit, filing for bankruptcy does not mean that you have to be stuck with horrible credit forever. There are steps that you …
How Co-Signing Impacts Your Credit
July 25, 2018 Shawn Lane Consumer Credit Expert Most credit questions asked of me can be answered exactly the same. “It depends…” Question: How will an inquiry impact my credit? Answer: “It depends” Question: How will opening a new credit card impact my credit? Answer: “It depends” Asking how co-signing impacts your credit is no exception. The effect which co-signing …
Why Paying Your Credit Card On Time Isn’t Enough
June 14, 2018 Shawn Lane Consumer Credit Expert Basic credit common sense tells you that paying your bills on time is essential to maintaining a good credit rating. What you may not realize, however, is that your payment history is only one component of good credit. Payment history absolutely matters, but keeping your payments on time alone is not enough …